Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-06-16)

The downtrend will turn around, so don't hold a large position in the short term.
1. Market Trends <br/>Today is June 16, 2017. The current price of Bitcoin is 17,865 yuan. After the opening yesterday, the price of the currency fell by inertia, reaching the lowest point of the day at 16,761 yuan, and then rebounded from the bottom. However, the current market has weak momentum for long positions, and the rebound strength is limited. Please be cautious when investing heavily, and wait until the trend becomes clear before investing heavily.
Looking at the daily chart, the moving average system (5, 10, 20) and MACD indicators are running in a bearish pattern. The price of the currency has fallen to near MA20, and the area of ​​the red column representing the strength of the bears is still expanding. The possibility of a high rise in the short term is small. However, both the stochastic indicator and the strength index have bottomed out, indicating that the market is in an oversold state, and the bulls may try to attack upward.
Looking at the 4-hour chart, the moving average system shows a short-selling pattern, the price of the currency has fallen below the MA60 support line, and the MACD indicator is still running in the weak area below the zero axis, indicating that the bulls need more time to accumulate strength and adjust. Both the stochastic indicator and the strength index have escaped from the oversold area and stretched to the overbought area, and the buying power has gradually recovered.
Overall, some indicators have bottomed out, and it is expected that the price of the currency will rebound. However, since the adjustment trend has not yet undergone a fundamental change, it is risky to participate in heavy positions at this time. Long-term investors can still hold their positions, while short-term investors should participate in light positions and avoid fighting.


2. Newcomer Index <br/>The figure below shows the daily newcomer index.